The logo for Canaccord Genuity is shown in Toronto on March 8, 2023. Photo by THE CANADIAN PRESS/Staff

Canaccord Genuity Group Inc. said it’s nearing a broad settlement with U.S. authorities stemming from compliance gaps at its non-core trading businesses in the country and has set aside a total of US$75 million to cover anticipated penalties.

In its fiscal second quarter, the Canadian investment bank added US$55 million to provisions it has already taken in relation to the enforcement matter, according to a statement Thursday.

Final details of the expected “unified resolution” with multiple unnamed regulators are contingent on the United States government reopening, Canaccord said, noting it’s likely to take several months to finalize.

“We’ve made significant progress and ongoing i

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